Bank of Montreal indications deal that is underwriting Canopy development, rendering it the first major Canadian bank to solution cannabis industry
The lender of Montreal entered as a major financing deal with certified Canadian cannabis business Canopy development, marking a policy shift that is significant for major banking institutions in the united states.
Canopy Growth, which will be situated in Smith Falls, Ont. and is known as certainly one of Canada’s biggest licensed cannabis producers, announced its $175-million purchased deal with GMP Securities LP and BMO Capital Markets. BMO is owned by Bank of Montreal.
In its statement, Canopy stated that BMO and GMP led underwriting regarding the stock purchase involving just a little over five million stocks associated with the public exchanged medical cannabis business. This marks the very very first time that a major bank-owned brokerage in Canada has participated in and headed an equity funding for a cannabis producer. Continuar leyendo «Bank of Montreal indications deal that is underwriting Canopy development, rendering it the first major Canadian bank to solution cannabis industry»